VES Insights | April 2025

VES Insights, your go-to newsletter for the latest in bookkeeping, automation, AI, Xero tips, and essential ATO updates to keep you informed and on track. From simplifying your bookkeeping to harnessing the power of automation and AI, our newsletter is packed with valuable tools and reminders to help you stay ahead.

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$20,000 Instant Asset Write-Off is Extended!

Good news for small businesses — the Government has extended the $20,000 Instant Asset Write-Off to 30 June 2025. If your business turns over less than $10 million annually, you can claim an immediate deduction on eligible assets under $20,000 (ex. GST) that are installed and ready for use within the timeframe.

Read on to find out what’s covered, who’s eligible, and how to make the most of this tax-saving opportunity.

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Changes Are Coming to PAYG Withholding in 2025

From 1 July 2025, the ATO will update how frequently businesses report and pay PAYG withholding tax. If your business has grown and you're now withholding more tax than in previous years, you may be moved from quarterly to monthly reporting. This change will be based on your total PAYG withholding for the 2023–24 financial year, and the ATO will notify affected businesses by June 2025.

Read the full article to find out what’s changing, who’s affected, and how to stay compliant ahead of the 2025 rollout.

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Small Business Restructuring and Personal Exposure: What You Need to Know

If your business is struggling with tax debts, cash flow gaps, or growing creditor pressure, you’re not alone and there are steps you can take.

The Small Business Restructuring (SBR) process offers eligible businesses a chance to reduce legacy debts while continuing to operate. But directors need to be aware of personal risks, like Director Penalty Notices and personal guarantees.

Read the full article to understand how the SBR process works, what to do if you receive a DPN, and how to take control before things escalate.

Disclaimer: This newsletter is intended to provide general guidance and is not specific advice. We encourage you to seek tailored advice for your circumstances.